Decision details

To seek approval to enter into a one-to-one transaction made under the council’s land disposal framework, on regeneration grounds. The land to be sold is in a key strategic location for developing office space adjacent to land already acquired by the council and next to the Phoenix Cinema. It also reserves the land required to create an access link to the Phoenix Cinema from St George Street, towards which Local Transport Grant from the Department for Transport has already been approved. The Collaboration Agreement aligns HE to these objectives and provides additional funding to progress the overall objective of comprehensive regeneration.

To:

(i)  enter into the collaboration agreement with Homes England as set out in the report,

(ii)  enter into a land sale contract to sell the site shown in Plan 1 attached to Homes England for £1.15m,                

(iii) enter into a 5-yr lease with Homes England

(iv) add £300k (Plus VAT as applicable) as an immediate start to the 2026/27 general fund capital programme for costs in gaining planning consent for the site, financed by Homes England grant.

Entering into Collaboration Agreement with Homes England which includes the disposal of a site to this strategic regeneration partner

Not disposing of site and entering into collaboration agreement